Also called: GST on flat purchase, GST on under-construction property
Goods and services tax charged on the price of an under-construction flat: 5% without input tax credit, or 1% for an affordable home. A completed property sold after its completion certificate carries no GST.
How it works and what to check
These residential rates have applied since 1 April 2019. An affordable home is one up to ₹45 lakh with a carpet area up to 60 square metres in metropolitan cities or 90 square metres elsewhere. GST is not charged on land or on a resale between individuals.
Commercial units, works contracts and rent on commercial property are taxed differently. Check the current rates for those with a tax adviser.